fannie mae: Mood on Housing Market Brightens as More People Want to Sell - 04/19/13 01:17 AM
According to a National Housing Survey conducted by Fannie Mae, more Americans are coming to the conclusion that the housing market is stabilizing and that now would be a good time to sell their homes.
A total of 26 percent of 1,004 people surveyed answered that they think market conditions are right to sell their homes now. This is double the percentage recorded a year prior from survey respondents who were asked the same question. To coincide with that, 73 percent of the population surveyed stated that this would be a good time to purchase a home. Nearly half of the respondents … (2 comments)

fannie mae: Bank of America Pays $10 Billion in Settlement with Fannie Mae - 01/07/13 12:40 AM
Bad home loans sold between 2000 and 2008 were at the center of the $10.3 billion settlement that was reached today between Bank of America and Fannie Mae. The loans, originally valued at $1.4 trillion, were sold to Fannie Mae by Bank of America at the height of the housing bubble, and are what led Fannie Mae’s government takeover and $116 billion bailout.
As per the settlement arrangement, Bank of America will pay $3.55 billion in cash to Fannie Mae, as well as repurchase 30,000 of the original loans at a loss for the remaining $6.75 billion. Bank of America will also … (2 comments)

fannie mae: Housing Market Outlooks Rise Alongside Existing Home Sales - 11/26/12 12:57 AM
October was a great month for existing home sales according to recent reports released from the National Association of Realtors®. Despite interruptions from Hurricane Sandy, as well as the nation’s preoccupation with the election, existing home sales continued to rise by 2.1 percent alongside increases in price due to inventory shortage.Existing home sales, which include single-family homes, condos, co-ops and townhomes, reached an annual rate of 4.79 million in October, a significant 10.9 percent increase above where they were in October 2011. In addition, the national median price for existing homes was $178,600, which was a comparable 11.1 percent increase above … (0 comments)

fannie mae: Fannie Mae Blocking Short Sale Transactions? - 11/05/12 03:13 AM

Back in August, Fannie Mae announced that they had accepted new federal guidelines to “streamline short sale processes to prevent foreclosures and help communities stabilize.”
So why is it only two months later that we are seeing reports from other agents, as well as the mainstream media, that show a more obstructionist path being taken by the government-sponsored enterprise?It seems as though Fannie Mae has been raising prices on approved short sales, by as much as 25% in some cases, causing deals to fall through and forcing many of these homeowners into foreclosure. A perfect example of this comes from … (3 comments)

fannie mae: Mortgage Rates Reach Record Low! - 09/24/12 03:06 AM
With the Federal Reserve’s announcement to invest in home loans last week, mortgage rates across the nation fell sharply, reaching some of the lowest levels ever seen and bringing in a new wave of opportunity for those currently looking at homes.According to Freddie Mac’s survey of mortgage rates last week, both 30-year and 15-year fixed-rate mortgages saw decreases. The 30-year rate fell from 3.55 percent to 3.49 percent, and the 15-year rate went from 2.85 percent to 2.77 percent.With a fresh influx of Reserve money, to the tune of $40 billion every month, being put into mortgage-backed securities, it is expected … (0 comments)

 
Michael Kara, Central Florida Short Sale Expert (RE/MAX Exclusive Collection)

Michael Kara

Central Florida Short Sale Expert

Orlando, FL

More about me…

RE/MAX Exclusive Collection

Address: 3107 Edgewater Drive #1, Orlando, FL, 32804

Office: (407) 447-2829

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RE/MAX Exclusive Collection is a boutique real estate office located in College Park in Orlando Florida. Michael Kara, broker, has over 15 years of experience and closes more pro-consumer short sales than any other Realtor in Orlando.


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